Conducting Monetary And Credit Policy In Countries Of The Former Soviet Union
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Author | : Mr.Hugh Bredenkamp |
Publisher | : International Monetary Fund |
Total Pages | : 26 |
Release | : 1993-03-01 |
Genre | : Business & Economics |
ISBN | : 1451921071 |
Download Conducting Monetary and Credit Policy in Countries of the Former Soviet Union Book in PDF, Epub and Kindle
This paper surveys some of the principal monetary policy issues facing countries of the former U.S.S.R. The emphasis is on the immediate problem of imposing financial discipline in these economies, to bring down inflation quickly and decisively. Possible options for the essential nominal anchor are considered, together with the problems of selecting appropriate targets and instruments for monetary policy needed to make that anchor effective. It is argued that, if the stabilization effort is to be sustained, discipline must be imposed at the micro- as well as the macro-level, and the paper suggests a second-best approach to the allocation of credit in the absence of well-functioning credit markets.
Author | : Fondo Monetario Internacional |
Publisher | : |
Total Pages | : 24 |
Release | : 1993 |
Genre | : |
ISBN | : |
Download Conducting monetary and credit policy in countries of the former Soviet Union Book in PDF, Epub and Kindle
Author | : George Garvy |
Publisher | : New York : Published for the National Bureau of Economic Research by Ballinger Publishing Company, Cambridge, Mass. |
Total Pages | : 248 |
Release | : 1977 |
Genre | : Business & Economics |
ISBN | : |
Download Money, Financial Flows, and Credit in the Soviet Union Book in PDF, Epub and Kindle
Economic research monograph on banking and monetary policy in the USSR - covers foreign exchange, trade and the balance of payments, price stabilization policies, the nature of capital flows, foreign investments, financial planning, the credit system, etc. Bibliography pp. 204 to 218, diagram and references.
Author | : Yasushi Nakamura |
Publisher | : Springer |
Total Pages | : 232 |
Release | : 2017-08-08 |
Genre | : Business & Economics |
ISBN | : 1137494182 |
Download Monetary Policy in the Soviet Union Book in PDF, Epub and Kindle
This book sheds light on the Soviet economic system, which claimed the eventual abolition of money, collapsed following a monetary turmoil. It argues that the cause of the economic collapse was embedded in the design of the economic system. The Soviet economic system restricted the market, but continued to use fiat money. Consequently, it faced the question for which no feasible answer seemed to exist: how to manage fiat money without data and information generated by the market? Using Soviet data newly available from the archives, the book evaluates the performance of the components of monetary management mechanism, discovers the continuous accumulation of open and secret government debts, and quantitatively analyzes the relationship between economic growth and the money supply to support the argument. The book concludes that the Soviet economic collapse marked the end of the long history of Soviet monetary mismanagement.
Author | : Adam Zwass |
Publisher | : White Plains, N.Y. : M. E. Sharpe |
Total Pages | : 256 |
Release | : 1979 |
Genre | : Business & Economics |
ISBN | : |
Download Money, Banking & Credit in the Soviet Union & Eastern Europe Book in PDF, Epub and Kindle
Author | : International Monetary Fund. Research Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 244 |
Release | : 1995-01-01 |
Genre | : Business & Economics |
ISBN | : 1451957068 |
Download IMF Staff papers Book in PDF, Epub and Kindle
This paper provides a critical survey of the literature on politico-institutional determinants of the government budget. We organize our discussion around two questions: Why did certain OECD countries, but not others, accumulate large public debts? Why did these fiscal imbalances appear in the last twenty years rather than sooner? We begin by discussing the “tax smoothing” model and conclude that this approach alone cannot provide complete answers to these questions. We then proceed to a discussion of political economy models, which we organize into six groups: (1) models based upon opportunistic policy makers and naive voters with “fiscal illusion”; (2) models of intergenerational redistributions; (3) models of debt as a strategic variable, linking the current government with the next one; (4) models of coalition governments; (5) models of geographically dispersed interests; and (6) models emphasizing the effects of budgetary institutions. We conclude by briefly discussing policy implications.
Author | : Martha De Melo |
Publisher | : World Bank Publications |
Total Pages | : 84 |
Release | : 1997 |
Genre | : |
ISBN | : |
Download Monetary Policy During Transition Book in PDF, Epub and Kindle
Author | : Mr.Paul Louis Ceriel Hilbers |
Publisher | : International Monetary Fund |
Total Pages | : 34 |
Release | : 1993-11-01 |
Genre | : Business & Economics |
ISBN | : 1451850948 |
Download Monetary Instruments and their Use During the Transition From a Centrally Planned to a Market Economy Book in PDF, Epub and Kindle
This paper discusses different instruments of monetary policy, and in particular the choice between direct and indirect instruments. It identifies the main characteristics of a country’s financial system that should be considered in selecting monetary instruments, and analyzes how these characteristics should influence that selection in countries that are progressing from a state-controlled to a market economy. The characteristics of the financial system during the initial stage of the transition sometimes favor relatively direct instruments. At this stage market-based variants of direct instruments may combine the necessary effectiveness in reducing monetary expansion with the need to introduce and stimulate competition in the financial markets. During this stage indirect instruments can be developed and tested (“belt and braces” approach). In later stages, as experience is gained, these indirect instruments can gradually replace the more direct controls.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 60 |
Release | : 1994-12-01 |
Genre | : Business & Economics |
ISBN | : 1451856776 |
Download The Coordination of Domestic Public Debt and Monetary Management in Economies in Transition Book in PDF, Epub and Kindle
In economies in transition, the development of financial markets is a common objective linking the monetary and fiscal authorities, while monetary and public debt management cannot be strictly separated. This calls for close coordination of objectives and instruments of monetary and debt management, and the development of supporting institutional and operational arrangements. Key aspects of these arrangements are surveyed.
Author | : Jacek Rostowski |
Publisher | : Central European University Press |
Total Pages | : 242 |
Release | : 1995-06-01 |
Genre | : Business & Economics |
ISBN | : 9633865573 |
Download Banking Reform in Central Europe and the Former Soviet Union Book in PDF, Epub and Kindle
This study analyzes the main requirements placed on Central and Eastern Europe's financial systems during their transition to a market economy. It assesses the financial reforms already carried out in the countries of Central Europe, their adaptations of Western institutional models, and the lessons to be drawn from their experiences for the "second wave" reformers in the former Soviet Union and the Balkans.